Your Retirement GuideA STEP-BY-STEP CHECKLIST

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YOUR RETIREMENT GUIDE

This guide provides a summary of CenterPoint Energy’s benefits. It does not supersede the description of benefits contained in any of the related plan documents. In the event of any discrepancy between this guide and any of the related plan documents, the plan documents will govern. CenterPoint Energy retains the right to make changes to any of the related plans at any time.

You’re Retiring SoonCongratulations! Retirement is a big step.

You will be asked to make many important decisions about your CenterPoint Energy benefits and your financial security over the next few weeks and months. This easy-to-use guide takes you step-by-step through the CenterPoint Energy retirement process. It also gives you information about some of the other things you need to know, do, and consider while transitioning into retirement.

TIP: Start the Process Two Months Out.Start the retirement process about two months before you want to retire. This will give both you and CenterPoint Energy enough time to get everything in place for a smooth transition. You will need to contact all three benefit centers to commence your benefits.

TIP: Use Direct Deposit and Direct Debit.Direct deposit makes receiving Retirement Plan payments easy and convenient. Direct debit gives you a hassle-free way to pay benefit premiums. To set up direct deposit or direct debit, have your bank or other account information available as you work through the retirement process.

TIP: Verify your home mailing address is correct in Employee Self Service (ESS). After you retire, don’t forget to let CenterPoint Energy know when your

address changes. To report an address change, you will need to notify EACH of the benefit centers listed on the right. Address updates do NOT carry over between benefit centers.

Contact Information for your Retiree Benefits

Retirement Plan Center800-687-5770http://digital.alight.com/centerpoint

Savings Plan Center844-273-8692CNPsavings.voya.com

Benefits Service Center833-236-3487CNPBenefits.com

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YOUR RETIREMENT GUIDE

Your Retirement Action ChecklistUse this checklist to keep track of what you need to do as you work through the retirement process.

WHAT YOU NEED TO KNOW• If you’re vested in the plan, you’ll receive a retirement benefit.

• Choose your retirement date carefully. Your age, years of service and the plan’s interest rate have a big impact on the amount of your Retirement Plan benefit.

• The Retirement Plan Center has representatives called “Retirement Specialists” who can give you the information you need to help you make the decision that’s best for you, and you can work with the same specialist throughout the process of your Retirement Plan distribution. They can help you understand what your benefit options are, explain the forms required to commence your benefit, and clarify what steps you need to take and when. Your Specialist can also help you understand the general tax rules that may apply.

• If your Specialist isn’t available when you call, the customer service representative will schedule an appointment for your Retirement Specialist to return your call as soon as possible. You can also go online to schedule an appointment to meet with a specialist.

WHAT YOU NEED TO DO � Confirm your beneficiary’s information is correct.

� Choose the type of payment(s) you want, as well as how and when you want to commence. You can leave your benefit in the plan until age 72.

� Return the required forms at least 30 days before your retirement date to make sure that your payments won’t be delayed.

� Have your banking information available to set up direct deposit or your financial institution’s information available for a rollover distribution.

� Call your retirement specialist at 800-687-5770 or visit the Retirement Plan Center’s website at digital.alight.com/centerpoint for more information.

Note: If you retire and elect to receive a lump sum benefit immediately after retirement, there will be a 45 day hold from your termination date before the benefit can be distributed.

Your CenterPoint Energy Benefits

Retirement Plan

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YOUR RETIREMENT GUIDE

WHAT YOU NEED TO KNOW• Confirm your beneficiary’s information is correct.

• Your plan contributions stop up to 30 days after you retire, and you must wait at least 30 days after you terminate to take a distribution from the plan.

• You must pay back a plan loan the earlier of: 1) 90 days after your termination date, 2) the date on which the loan expires, or 3) the date on which you take a distribution from the plan, or the outstanding balance will default and become taxable income.

• You can leave your money in the plan up to age 72 (provided your vested balance is greater than or equal to $5,000), take a portion or all of it in cash or stock, or roll over a portion or all of it into an IRA.

• You’ll continue to choose how any money you leave in the plan is invested.

Note: If the balance in your account is greater than $1,000 but does not exceed $5,000 and you fail to consent to the distribution, your account balance will be paid as a distribution in a direct rollover to an individual retirement account established by the recordkeeper.

WHAT YOU NEED TO DO � Choose how and when you want to take money out of the plan.

� Visit the Savings Plan Web site at cnpsavings.voya.com or call the Savings Plan Center at 844-273-8692 for more information.

Your CenterPoint Energy Benefits

Savings Plan

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YOUR RETIREMENT GUIDE

WHAT YOU NEED TO KNOW• If you were hired prior to January 1, 2018, and retired from the company at age 55 or

older with at least 5 years of service after reaching 50, you are eligible to enroll in the retiree health plans. Your spouse or other dependents may also be eligible.*

• To view your enrollment options, log onto the benefits site through CNP Today or at www.CNPBenefits.com. Select the option “Model your Benefits here.”

• When you reach age 65, the UnitedHealthcare Medicare Advantage (PPO) Plan is your only option for medical coverage. You must sign up and currently pay for Medicare Part B to be eligible for this plan (see page 8).

• You will be billed monthly for your retiree health plan – or you can sign up for direct debit (ACH) payments once your retiree health and welfare benefits have begun.

• You may choose to defer enrollment in a CNP Retiree Medical Plan until you reach age 65. You may not enroll after the age of 65 unless you have been continuously covered by an employer group plan.

• For more information regarding Retiree Health Plans, go to the benefits site and search “Retiree Benefits Enrollment Guide” in the Library.

WHAT YOU NEED TO DO � Decide if you want to enroll. If you choose not to enroll, you may temporarily continue your coverage through COBRA if you are not already 65. If you are over 65 and you enroll in Cobra, you will be unable to enroll in CNP’s Medicare Advantage Plan.

� Call the CenterPoint Energy Benefit Service Center at 833-236-3487 for more information on your enrollment for Retiree Health Plans.

� You may set up ACH payments online at BenefitsBilling.bswift.com or by completing and returning the Automatic Payment (ACH) Request Form found in your Welcome Kit. Your first payment must be submitted by check.

Your CenterPoint Energy Benefits

Retiree Health Plans (Retiree Medical, Dental and Vision)

*Please note: Employees represented by IBEW Local 66 who terminate or retire from the company as of January 1, 2017 or later, are not eligible to enroll in the CenterPoint Energy retiree medical plan. IBEW Local 66 retiree medical, dental and vision coverage is provided for eligible IBEW retirees under the Family Medical Care Plan (FMCP). Contact FMCP at 877-937-9602 if you have questions about these coverages.

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YOUR RETIREMENT GUIDE

WHAT YOU NEED TO KNOW• Your employee benefit coverages end the last day of the month in which you terminate.

• You may elect to temporarily continue your medical, dental and vision coverage through COBRA.

• You may submit flexible spending account (FSA) claims for expenses that you incurred before your termination date until April 15 of the following year.

WHAT YOU NEED TO DO � Decide if you want COBRA coverage.

� Enroll when you receive your COBRA enrollment materials in the mail.

� Call the Benefits Service Center at 833-236-3487 for more information.

WHAT YOU NEED TO KNOW• Basic life, supplemental and dependent life, and accidental death & dismemberment

insurance coverages end the last day of the month in which you terminate.

• You may be able to convert or port your coverage after termination under the conversion or portability provisions by calling Cigna at 800-362-4462. If you meet retiree eligibility requirements, you may elect to continue or reduce supplemental life insurance coverage within 30 days of your termination date.

WHAT YOU NEED TO DO � Decide if you want to continue or reduce your current coverage within 30 days of your termination date.

� Call the CenterPoint Energy Benefit Service Center at 833-236-3487 for more information.

Your CenterPoint Energy Benefits

COBRA Medical, Dental, Vision and Health Care FSA

Life Insurance

WHAT YOU NEED TO KNOW• Long-term disability coverage ends on the day you terminate.

Disability

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YOUR RETIREMENT GUIDE

WHAT YOU NEED TO KNOW• Apply for Social Security benefits four months before your retirement date to ensure

that your benefits will begin when you need them.

• You may begin receiving a reduced benefit as early as age 62. However, your benefit is reduced if you begin receiving benefits before your full retirement age.

WHAT YOU NEED TO DO � Apply for benefits.

� Visit www.ssa.gov or call 800-772-1213 for up-to-date information regarding Social Security benefits.

Other Resources/Action Steps

Social Security

WHAT YOU NEED TO KNOW• You’ll be automatically enrolled in Medicare when you sign up for Social Security

benefits, unless you elect otherwise.

• You need to enroll within three months before you reach age 65. If you wait, you may have to pay a Medicare premium penalty.

• For information about Medicare, visit www.medicare.gov or call 1-800-MEDICARE (1-800-633-4227).

Important: Enroll in Medicare three months before your retirement date to ensure that your benefits will begin when you need them and to avoid possible Medicare premium penalties. You will need your MBI number and a permanent address listed in the system in order to sign up for the CenterPoint Energy Medicare Advantage Plan.

WHAT YOU NEED TO DO � Enroll in Medicare before you reach age 65.

� Visit www.socialsecurity.gov or call 1-800-772-1213.

Medicare See pages 8-9 for more information.

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YOUR RETIREMENT GUIDE

WHAT YOU NEED TO KNOW• The Medicare Advantage (PPO) plan is the only coverage option for Medicare-eligible

participants choosing to enroll in a CenterPoint Retiree Medical Plan. To be eligible for the Medicare Advantage plan, you must be enrolled in Medicare Part A and Part B and continue to pay your Medicare Part B premium. It is important to note that you can’t have both Medicare Part D coverage and the CenterPoint Energy Medicare Advantage (PPO) plan. If you enroll in Medicare Part D coverage, you are not eligible for the CenterPoint Energy Medicare Advantage Plan. See page 9 for more information on Medicare Part A, B, and D.

• For plan information, visit UHCRetiree.com/CenterPoint or call 1-877-456-4831.

• If you would like to enroll in the Medicare Advantage plan, you must do so at the time you turn 65, unless you are being covered by your spouse’s employer group plan. You will be required to provide proof of this employer coverage prior to enrolling.

• If you are working past age 65 and want to sign up for Medicare Part B, you must fill out the form CMS-L564, which can be found at www.medicare.gov. Once you fill out the form, upload it to your employee file at www.CNPBenefits.com for employer signature.

• The cost of your CenterPoint Energy retiree medical coverage may change each year. You’ll receive information about any changes to pricing each fall before open enrollment. If you’re younger than age 65 when you retire, one of the CenterPoint Energy’s pre-65 medical planswill be your primary plan until you turn age 65 and become eligible for Medicare. If you and your spouse become eligible for Medicare at different times, you’ll be offered medical options that accommodate both of your Medicare eligibilities.

WHAT YOU NEED TO DO � Review information about the Medicare Advantage Plan coverage to determine if you want to enroll.

� Enroll in Medicare Part A and Part B.

� Call the Benefits Service Center at 833-236-3487 to provide your Medicare (MBI) number and a permanent address (this may not be a PO Box).

Other Resources/Action Steps

CenterPoint’s Medicare Advantage Plan

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YOUR RETIREMENT GUIDE

Medicare Plan

Medicare is a federal health insurance program for people who are age 65 and older and others, including some disabled people under age 65 and people with End-Stage Renal Disease. It has three parts:

This covers hospital stays, care in skilled nursing facilities, home health care, hospice care and blood transfusions. Everyone who’s eligible for Medicare gets Part A; there’sno charge for it.

This covers doctors’ services, outpatient hospital care, and some medical supplies and equipment. It also covers some services that Part A doesn’t cover, such as certain physical and occupational therapy and home health care services. Part B, which is optional, has a monthly premium that’s deducted from your monthly Social Security benefits.

This covers prescription drugs. Part D is optional—a monthly premium applies. Medicare delivers Part D coverage by contracting with private prescription drug plans. These plans offer standard Part D coverage and may offer more coverage and additional drugs for higher monthly premiums.

Several Medicare prescription drug plans are available ineach state, so you’ll need to determine which plan best meets your needs. You may enroll in Medicare Part D between November 15 and December 31 each year. Enrollment isn’t automatic—if you want coverage, you must enroll directly with the private prescription drug plan. Please see important notes on this page about issues if you sign up for a Part D plan outside of CenterPoint Energy.

Important: You can’t have both Medicare Part D coverage and CenterPoint Energy coverage. If you enroll in Medicare Part D, you and any of your eligible dependents will not be eligible for the CenterPoint Energy retiree medical plan coverage.

PART A:

PART B

PART D:

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YOUR RETIREMENT GUIDE

WHAT YOU NEED TO KNOW• Do you have benefits in pension plans or savings plans from previous employers?

• Do you have personal savings accounts including bank accounts, IRAs, brokerage accounts and other investments?

• An estate plan ensures that you and your beneficiaries get the maximum value from your hard-earned money—both before and after your death.

• You should consider having a will, living trust, durable power of attorney, power of attorney for health care and/or a living will.

WHAT YOU NEED TO DO � Factor these previous employer benefits into your planning.

� Factor these personal savings into your planning.

� Contact your financial institutions.

� Gather and review all your financial records, current will, etc.

Other Resources/Action Steps

Other Resources

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